Golf Balls Market Trends, Business Overview, Industry Growth and Forecast to 2028

The global golf balls market is anticipated to grow at a considerable CAGR during the forecast period (2022-2028). The growing popularity of golf is anticipated to drive the growth of the global golf balls market. According to the data published by National Gold Foundation, Approximately 24.8 million people played golf in the US in 2020. Also, nearly 37.5 million people in the US played golf in 2021. Out of these 25 million people played on a golf course and 12.4 million participated in off-course golf activities at places like indoor golf simulators, driving ranges, or golf entertainment venues. The number of rounds played in 2021 was up 16.1% compared to 2020. In addition, one out of every three Americans aged 6 years and above, played golf on the course or off course, followed golf on television, or listened to a golf-related podcast in 2021. Moreover, 25.0% of on-course golfers are women. Females represent a higher percentage of beginners (37.0%), juniors (36.0%), and of- course participants (44.0%). Thus, the growing popularity of golf is projected to fuel the demand for the global golf balls market.

Looking toward the demand for golf balls, key market players are adopting various strategies including mergers & acquisitions, geographical expansion, partnerships and collaborations, and new product launches, to stay competitive in the market. For instance, in January 2021, Titleist launched Pro V1 golf balls. The Pro V1 ensures more greenside spin and control, and a softer feel. On the Pro V1, the number of dimples increases from 352 to 388, which is specific to each model. Thus, such launches are anticipated to drive the growth of the golf balls market.

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Market Coverage
•The market number available for - 2021-2028
•Base year- 2021
•Forecast period- 2022-2028
•Segment Covered-
•By Type
•By Application
•Regions Covered-
•North America
•Europe
•Asia-Pacific
•Rest of the World

Competitive Landscape- Volvik USA., Callaway Golf Co., and Titleist (Acushnet Co.) among others

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Global Golf Balls Market Report by Segment
By Type
•One-Piece Ball
•Two-Piece Ball
•Three Piece Ball
By Application
•Professional
•Leisure

Key questions addressed by the report
•What is the market growth rate?
•Which segment and region dominate the market in the base year?
•Which segment and region will project the fastest growth in the market?
•How has COVID-19 impacted the market?
•Deviation from the pre-COVID-19 forecast
•Most affected region and segment
•Who is the leader in the market?
•How players are addressing challenges to sustain growth?
•Where is the investment opportunity?

 

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This release was published on openPR.